Our boss Leo shared an interesting take on the whole $LIBRA situation, and honestly, I agree with him.

All the noise and drama around $LIBRA isn’t about the fact that someone got rugged—it’s about who got rugged.

This isn’t about fairness or a level playing field.

It’s about insiders suddenly becoming the victims themselves 😂

The usual scheme works like this:

• Tier-S insiders get information directly from the teams, ape in at super early stages, and onboard lower-tier insiders (Tiers 1-2-3).
• Tier 1-2-3 insiders get in at the early stage, and their job is to onboard retail, which ultimately becomes exit liquidity.

That’s how it’s always worked.

Nobody complained because everyone was making money, and retail was always the one getting dumped on.

But this time, things didn’t go according to plan with $LIBRA.

Tier-S insiders dumped their bags—not on retail, but on Tier 1-2-3 insiders.